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OIL PRICES SURGE AS GEOPOLITICAL RISK RISES.
Oil prices are on the rise due to increasing geopolitical tensions and a bullish trend in West Texas Intermediate (WTI) crude oil, closely following Brent crude's movements. Escalating unrest in the Middle East, particularly involving Israel and Iran, has led to uncertainties in oil supply, boosting global oil prices and contributing to the upward movement of WTI prices.
- 2 years, 4 months
RENEWABLE ENERGY PROJECTS BEGIN IN IRAN WITH HUGE CAPACITIES.
Renewable energy projects in Iran, with a capacity of up to 7,500 MW, began during the Persian year ending March 19, 2023. These projects, primarily focused on solar and wind energy, represent a significant step towards Iran's goal of diversifying its energy sources and reducing its reliance on fossil fuels.
- 2 years, 4 months
THE WORLD'S LARGEST OFFSHORE OIL FIELD IS LOCATED IN SAUDI ARABIA.
The Safaniya field in Saudi Arabia is the largest offshore oil field globally, discovered in a submerged area. The Kingdom aims to develop it further through new deals to increase production as part of efforts to support its economy.
- 2 years, 4 months
SLB ANNOUNCES $8-BILLION DEAL AS MERGERS EXTEND TO OILFIELD SECTOR.
SCHLUMBERGER (SLB), the leading oilfield services provider globally, announced a definitive agreement on Tuesday to acquire smaller competitor ChampionX Corporation in an all-stock transaction valued at $7.75 billion, as consolidation in the energy sector extends to oilfield services.
- 2 years, 4 months
ACTIVISTS PUSH INSURERS TO DROP OIL AND GAS PROJECTS, INDUSTRY HESITANT.
Extinction Rebellion, an activist group, conducted a week-long campaign against insurers to stop insuring oil and gas projects. However, it's unlikely that the insurance industry would be willing to drop clients that bring in between $1.6 billion and over $2 billion in premium income annually.
- 2 years, 4 months
GLOBAL GAS INVESTMENT SET TO SOAR TO $9 TRILLION BY 2050 DESPITE ENVIRONMENTAL CONCERNS.
Global gas investment is projected to grow significantly in the coming decades, despite criticism and campaigning by environmentalists and climate workers against the industry, as per a recent analytical report obtained by the Energy Research Unit.
- 2 years, 4 months
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